Bitcoin (BTCUSD) Price Action (8-Jan)

Bitcoin (BTCUSD-4H-TF) is looking really solid after its breakout on the 6th Jan.

We are looking at a really healthy retrace right now. You can see a bull flag forming and volume decreasing.

You can expect our support levels to hold, ~$3990 - $4050 short term after which we can expect a move up. Our next target is ~$4300.

BTCUSD broke above EMA200 recently which is the orange line. This same level now is likely to be tested (resistance turned support) before our next move which should happen soon (within days).

Easy patiently waiting as additional bullish candles are on their way.

Hit LIKE to show your support...

Namaste.

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Previous analysis:

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We have an ascending channel as well on the daily time frame, we need to break EMA50 ($4234) in order to continue moving up...

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EMA10 holds as support on the 4H TF:

- Now we test the top of the flag.

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We are moving now:

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BTCUSD continues with sideways consolidation.

Patience in the meantime.

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